Hedge Funds Are Crazy About Carmike Cinemas, Inc. (CKEC)

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Consequently, specific money managers have been driving this bullishness. Serengeti Asset Management, managed by Jody LaNasa and Vivian Lau, initiated the biggest position in Carmike Cinemas, Inc. (NASDAQ:CKEC). Serengeti Asset Management had $2 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $1.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Jim O’Brien and Jonathan Dorfman’s Napier Park Global Capital, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s now review hedge fund activity in other stocks similar to Carmike Cinemas, Inc. (NASDAQ:CKEC). We will take a look at Mag Silver Corp (USA) (NYSEMKT:MVG), Xunlei Ltd (NASDAQ:XNET), Raptor Pharmaceutical Corp. (NASDAQ:RPTP), and Yodlee Inc (NASDAQ:YDLE). This group of stocks’ market valuations match CKEC’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MVG 11 32624 -1
XNET 6 4503 -3
RPTP 21 73378 -1
YDLE 12 61726 3

As you can see these stocks had an average of 12.5 hedge funds with bullish positions and the average amount invested in these stocks was $43 million. That figure was $99 million in CKEC’s case. Raptor Pharmaceutical Corp. (NASDAQ:RPTP) is the most popular stock in this table. On the other hand Xunlei Ltd (NASDAQ:XNET) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Carmike Cinemas, Inc. (NASDAQ:CKEC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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